VANCOUVER, British Columbia, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Hanstone Gold Corp. (TSXV: HANS) (FSE: HGO) ("Hanstone" or the "Company"), is pleased to provide an update on its Doc and Snip North properties and the Company’s plans for further exploration, core drilling, airborne geophysical surveys and additional bulk sampling development on the properties. The properties are located within the prolific mineralized region known as the Golden Triangle of Northern BC.
DOC PROPERTY
Processing and shipment of two, 1 ton bulk samples collected on the DOC property during the 2021 field season on the Q19 and TRJC vein systems has been completed. The remainder of the bulk sample crush will be reserved for potential metallurgical testing. Preliminary bulk sample geochemical analysis returned positive results from Q19 and TRJC targets. The reported grades to date demonstrate repeatable and consistent results. The bulk of the assays remain pending, including additional results from silver and copper assays.
Additional bulk sampling is also being considered for the 2022 exploration season on the Q19 and other Doc vein systems. Existing underground workings on the Doc Property are also high priority targets for the proposed 2022 bulk sampling project. The company has the right to earn a 100% interest in the DOC property.
SNIP NORTH PROPERTY
As announced on October 5, 2021, Hanstone contracted Axiom Exploration Group Ltd. for the collection and processing of airborne magnetic data over the Company’s 100% owned Snip North Project proximal to the Snip Mine, British Columbia. This survey is intended to delineate magnetic low anomalies for future ground evaluation of potential gold mineralization. On the Doc Property, magnetic lows are known to be coincidental with verified mineralized targets. Geophysical results remain pending.
The airborne magnetic survey will provide high resolution tri-axial array magnetic gradient results expected to be followed up in the 2022 field season. Hanstone plans to use the data to evaluate any coincidental gossanous zones, and to compare with other nearby prospective areas with the same signature. The Company will also use this information to explore and evaluate nearby historical showings on the Snip North property.
2022 FIELD SEASON PROGRAM
Plans for the 2022 Drill program are currently being assessed pending receipt of all data generated in the 2021 field season. Due to the current global pandemic, delivery of materials and assay results has been delayed. Plans for the 2022 field season, weather condition permitting, are expected to include provisions for the following:
- Bulk Sampling Program: Additional bulk sampling is also being reviewed for the 2022 exploration season on the Q19 and other Doc vein systems to continue the metallurgical and mineralogical test work from the previous year.
- Helicopter Mag Surveys:The 2022 Hanstone exploration plan will consist of multiple phases to increase the amount and focus future drilling target areas.
- Helicopter EM & Ground IP Surveys: A series of Electromagnetic (EM) surveys are expected to be completed in Q2 2022, on both the Snip North and Doc properties to assist in delineation of porphyry style mineralized occurrence.
- Snip North Prospecting Program: Plans are to initiate prospecting in the areas of highest priority, following up on the extent of known mineralized vein and porphyry structure.
- Doc Property Prospecting Program:An area of focus on the Doc property will be on locating the Globe Adit, where historical reports described highly prospective mineralized quartz veining in the area.
- Structural Analysis:A Structural interpretation is expected to be completed on the Q19/TRJC, BGS, and Doc Zone in 2022 to assist in delineating future drill targets.
- Future Plans for possible late Summer 2022 or 2023:A multiple phase plan is being developed to create high priority drilling targets for areas of interest on the Snip North property, and across the entire Doc property.
Andre J Douchane, Executive Chairman commented: “Given there is a tremendous amount very strong surface showings of both precious and base metals, there is every reason to believe the existence of a very large heat source beneath all of precious and base metal occurrences on surface. I’m excited to see what develops from the 2022 Exploration Plan. We’re in giant country and we need to be looking for giants.”
About Hanstone Gold
Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North Projects optimally located in the heart of the prolific mineralized area of British Columbia known as the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past-producing mines and several large deposits that are approaching potential development. The Company holds a 100% earn in option in the 1,704-hectare Doc Project and owns a 100% interest in the 3,336-hectare Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful track record in the discovery of gold deposits and in developing mineral exploration projects through discovery to production.
Ray Marks, President and Chief Executive Officer
For Further Information Contact:
Carrie Howes, Director of Communications, +1-(778)-551-8488, carrie@hanstonegold.com
Or visit the Company’s website at www.hanstonegold.com
Cautionary Statement Regarding Forward Looking Information:
The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified using words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Hanstone’s business and the industry and markets in which it operates and will operate. Forward-looking information and statements are made based upon numerous assumptions, including among others, the results of planned exploration activities are as anticipated, the price of gold, the cost of planned exploration activities, that financing will be available if needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct Hanstone’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner.
Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
